Royal Bank of Canada raised its position in shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN) by 0.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 542,014 shares of the company’s stock after purchasing an additional 4,346 shares during the period. Royal Bank of Canada owned 0.79% of Beacon Roofing Supply worth $19,904,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in BECN. Geode Capital Management LLC grew its holdings in Beacon Roofing Supply by 7.6% during the fourth quarter. Geode Capital Management LLC now owns 761,064 shares of the company’s stock valued at $24,140,000 after purchasing an additional 53,900 shares during the period. Acadian Asset Management LLC lifted its position in shares of Beacon Roofing Supply by 59,763.0% during the first quarter. Acadian Asset Management LLC now owns 27,537 shares of the company’s stock worth $886,000 after acquiring an additional 27,491 shares in the last quarter. CIBC Private Wealth Group LLC purchased a new stake in shares of Beacon Roofing Supply during the first quarter worth $425,000. Sapience Investments LLC lifted its position in shares of Beacon Roofing Supply by 22.5% during the first quarter. Sapience Investments LLC now owns 807,550 shares of the company’s stock worth $25,971,000 after acquiring an additional 148,410 shares in the last quarter. Finally, Marshall Wace LLP purchased a new stake in shares of Beacon Roofing Supply during the first quarter worth $1,462,000.
In other news, major shareholder Cd&R Investment Associates Ix, purchased 3,207,200 shares of the stock in a transaction on Wednesday, September 25th. The shares were acquired at an average price of $32.08 per share, for a total transaction of $102,886,976.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.20% of the company’s stock.
Beacon Roofing Supply (NASDAQ:BECN) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $0.92 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.24 by ($0.32). Beacon Roofing Supply had a return on equity of 9.63% and a net margin of 0.15%. The business had revenue of $1.92 billion during the quarter, compared to analysts’ expectations of $1.99 billion. During the same quarter last year, the business posted $1.18 EPS. The company’s quarterly revenue was down .5% on a year-over-year basis. On average, sell-side analysts forecast that Beacon Roofing Supply, Inc. will post 2.39 EPS for the current fiscal year.
Several research firms have issued reports on BECN. Wedbush restated a “neutral” rating and set a $33.00 target price on shares of Beacon Roofing Supply in a research report on Wednesday, August 7th. JPMorgan Chase & Co. downgraded Beacon Roofing Supply from a “neutral” rating to an “underweight” rating and set a $29.00 target price on the stock. in a research report on Thursday, September 26th. Evercore ISI restated a “hold” rating and set a $31.00 target price on shares of Beacon Roofing Supply in a research report on Thursday, August 8th. SunTrust Banks set a $40.00 target price on Beacon Roofing Supply and gave the stock a “buy” rating in a research report on Wednesday, August 7th. Finally, BidaskClub upgraded Beacon Roofing Supply from a “hold” rating to a “buy” rating in a research report on Thursday, September 12th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and five have issued a buy rating to the company’s stock. Beacon Roofing Supply presently has an average rating of “Hold” and a consensus price target of $34.53.
Beacon Roofing Supply Company Profile
Beacon Roofing Supply, Inc, together with its subsidiaries, distributes residential and commercial roofing materials, and other complementary building materials to contractors, home builders, retailers, and building materials suppliers. The company's residential roofing products include asphalt shingles, synthetic slates and tiles, clay and concrete tiles, slates, nail base insulations, metal roofing, felts, synthetic underlayment, wood shingles and shakes, nails and fasteners, metal edgings and flashings, prefabricated flashings, ridges and soffit vents, and solar systems.
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